AML/CTF Frequently Asked Questions

What is AML/CTF?

Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws are designed to prevent criminals from using legitimate businesses and transactions, including commercial real estate, to conceal illicit funds or support terrorism.

Certain commercial real estate services in Australia are subject to regulation by the Australian Transaction Reports and Analysis Centre (AUSTRAC). As a result, commercial real estate businesses providing these services must comply with AML/CTF obligations.

Why is RWC Queensland requesting this information?

Like other commercial real estate businesses across Australia, RWC Queensland is required to comply with AML/CTF obligations when providing regulated services.

We have implemented clear processes to support our clients through these requirements and are committed to maintaining the highest standards of compliance, transparency, and professionalism.

What is Customer Due Diligence?

When buying, selling, leasing, or otherwise transacting in commercial property, RWC Queensland may be required to complete a Customer Due Diligence (CDD) process.

CDD involves verifying the identity of our clients before providing a regulated service. This may include confirming the identity of individuals, understanding the ownership and control structure of companies, trusts or other entities involved in the transaction, and undertaking additional checks where a customer or transaction presents a higher level of risk.

What information may be requested?

Depending on the ownership structure and nature of the transaction, your RWC Queensland representative, or our AML compliance provider, may request information or documentation relating to:

• Your full name, date of birth, occupation, and residential address
• Details from identification documents to verify your identity (such as a driver’s licence or passport)
• Ownership and control information relating to a company, trust, partnership or other legal entity, including beneficial ownership details
• Information to help us understand the nature and purpose of the transaction and, where required, the source of funds or source of wealth involved

How will this information be used?

The information collected enables RWC Queensland to meet its legal obligations, verify identity, assess risk, and help ensure that transactions are legitimate.

It may also be used to maintain compliance records and, where required by law, support reporting obligations to AUSTRAC and other regulatory authorities.

How will RWC Queensland handle your personal information?

RWC Queensland will only collect personal information that is reasonably necessary to meet its AML/CTF and related legal obligations.

Guidance from the Office of the Australian Information Commissioner (OAIC) states that businesses should not retain copies of full identification documents for AML/CTF record-keeping purposes unless required by law. For more information on how we handle personal information, please refer to our Privacy Policy.

What happens if the requested information is not provided?

If the requested information is not provided, RWC Queensland may be unable to provide regulated services or proceed with a transaction until the required information has been received and verified.

This is because completing Customer Due Diligence is a legal requirement before certain commercial real estate services can be provided.